Modelo, Molson Coors Said to Mull Possible Bid for Foster’s

Grupo Modelo SAB de CV, the Mexican brewer of Corona beer, and Molson Coors Brewing Co. have been exploring a possible joint bid for Australia’s Foster’s Group Ltd., said five people with knowledge of the situation.

The brewers are working with banks including Bank of America Corp. and Deutsche Bank AG on lining up financing for a potential purchase, said the people, who declined to be identified because the matter is private. Shares of Melbourne-based Foster’s surged 3.5 percent today, giving it a market value of about A$8.6 billion ($9.2 billion).